Labor Market Steadily Rebounding


Labor Market Steadily Rebounding

unemployment_Aug2021The Texas Workforce Commission recently released the August Labor Market and Employment reports. The seasonally adjusted national unemployment rate decreased by 0.2 percent to 5.2 percent. Texas seasonally adjusted unemployment rate decreased by 0.3 percent to 5.9 percent.

According to Aaron Gonzalez with Workforce Solutions, “The August unemployment rates had significant changes across the region with Hidalgo, Starr and Willacy counties reflecting decreases of 1.1 percent, 1.9 percent 1.4 percent, respectively.”

Gonzales also notes the following from the region:

  • McAllen has the lowest unemployment rates in the Rio Grande Valley at a rate of 6.2 percent.
  • Edinburg has the second lowest unemployment rate in the RGV at a rate of 6.3 percent.
  • Laredo unemployment rate decreased by 0.8 percent to 5.8 percent.
  • Harlingen unemployment rate decreased by 0.3 percent to 7.7 percent.
  • Brownsville unemployment rate decreased by 1.2 percent and a rate of eight percent.

Across the state, Texas had a gain of 39,300 non-agricultural jobs in August and a gain of 681,000 jobs in the past year (seasonally adjusted). This represents an annual employment increase rate of 5.6 percent.

Goods-producing employment increased by 1,000 jobs in August. A total of 60,100 jobs were gained in the past 12 months. The goods-producing sector has seen an increase of 3.5 percent over the past twelve months. The mining and logging sector had the most job growth for this month with 2,900 jobs added.

The service-providing sector increased by 38,300 jobs in August and has a total gain of 620,900 jobs in the past year. This sector is increasing at a six percent annual rate. The professional and business services sector had the most job growth with an additional 29,600 jobs increasing at a 10 percent annual rate. The education and health services sector had the second most job gains in July with an estimated 17,800 employees hired and an annual increasing rate of 4.2 percent.